Changyou.com Limited's (CYOU) hoard of cash and rock-bottom valuation can't be ignored. Even if you view the gaming company as being way too reliant on its mega-hit game Tian Long Ba Bu, it's impossible to ignore that it can be acquired at essentially 3.5 times Free Cash Flow. If the company's stock were to appreciate 110% it would be close to fair value.
As per Yahoo Finance: Changyou develops and operates online games in the People's Republic of China. The company is primarily involved in the development, operation, and licensing of massively multi-player online games.
It also owns and operates the 17173.com Website, a game information portal in China. The company's various MMOGs include...
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